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Fifty-nine banks in the EU have been restructured following the start of the financial crisis, says the European Commission (Photo: Fergus Ray Murray)

MEPs vote to protect small bank depositors

Large depositors in the EU will from 2016 be in line to suffer losses if a bank gets into serious trouble, but deposits under €100,000 should be fully protected, MEPs in the economic affairs committee voted late on Monday (20 May).

“The bail-in of any creditors should be done according to a clear hierarchy, with depositors with savings over €100,000 last in line, whilst deposits under €100,000 would be fully protected,” said Green economic and finance spokesperson Philippe Lamberts in a...

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Author Bio

Nikolaj joined EUobserver in 2012 and covers home affairs. He is originally from Denmark, but spent much of his life in France and in Belgium. He was awarded the King Baudouin Foundation grant for investigative journalism in 2010.

Fifty-nine banks in the EU have been restructured following the start of the financial crisis, says the European Commission (Photo: Fergus Ray Murray)

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Author Bio

Nikolaj joined EUobserver in 2012 and covers home affairs. He is originally from Denmark, but spent much of his life in France and in Belgium. He was awarded the King Baudouin Foundation grant for investigative journalism in 2010.

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